Such “2nd mark” PPP loans is subject to the latest eligibility requirements, like the following:
At exactly the same time, borrowers whom before removed and you can returned a beneficial PPP financing can be implement again towards difference between (1) the borrowed funds matter it chose and you can (2) the quantity they might now be considered locate
- Qualified borrowers try capped on just about 3 hundred employees (in the place of five-hundred); yet not, individuals that have more 3 hundred teams but whoever number one globe is within NAICS class 72 (apartments and you may restaurants provider) and therefore have no more than 300 team for every actual place is likewise eligible. The fresh new SBAs “affiliation” rules continue to incorporate, except regarding certain excluded businesses while the discussed right here .
- Qualified borrowers have to have had disgusting receipts during the very first, 2nd, or third quarter from 2020 (and money just after ) that demonstrate not less than a twenty five% cures compared to the same quarter inside the 2019 (otherwise, if the borrower was not in operation in the 2019, a twenty-five% reduction in the following, 3rd, otherwise fourth quarter off 2020, than the very first one-fourth out of 2020). …
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